Minister of Education, Youth and Empowerment, Housing and Settlement et al., Deputy Prime Minister Dr. Geoffrey Hanley, has expressed confidence in the government’s recent interventions to strengthen St. Kitts and Nevis’ Citizenship by Investment (CBI) Programme.
Addressing the programme’s recent overhaul, Dr. Hanley said that the restructuring of the CBI Programme has made it stronger than ever before.
Dr. Hanley made this observation as he engaged with media concerning matters related to St. Kitts and Nevis and the Caribbean region, on the sidelines of the recent CARICOM Heads meeting in Grenada.
Highlighting the St Kitts and Nevis programme’s 41 year long history, he noted that the CBI has significantly contributed to the country’s development. He continued, that as the country has grown and new challenges have arisen, the Dr. Terrance Drew-led government recognised the urgency of addressing these issues. Dr. Hanley expressed confidence that these challenges have been effectively addressed, resulting in a revamped programme that satisfies all stakeholders, including investors, compliance institutions, and the citizens of St. Kitts and Nevis.
A significant change intended to enhance the programme involves the Citizenship by Investment Unit’s (CIU) transition into a statutory corporation. This move, which 6 aligns with the recommendations of international compliance institutions, aims to improve oversight and increase the security of the programme.
To further strengthen the CIU, a Board of Governors was established. The board became operational on 23rd July, marking a significant step in the ongoing transition process.
Photo: Deputy Prime Minister Hanley being interviewed on the sidelines of the CARICOM Heads meeting (Photo: GIS Grenada)
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